010734 Dial Corp. Rose To $15.05July 27, 2001
The Scottsdale, Arizona-based consumer products maker said its net income rose sharply in the second quarter, beating Wall Street estimates, and it raised its forecast for full-year earnings, a rare move for a consumer products company in the current weak economic environment.
Helped by growth in its soap and laundry business, the maker of Dial soap, Renuzit air freshener and Armour canned meats said second-quarter net income was 16 cents a share, better than the 14 cents estimate by analysts as polled by Thomson Financial/First Call.
Dial raised its full-year earnings estimate to 68 to 70 cents a share, up from previous guidance of 55 to 66 cents, citing solid sales trends. Analysts' estimates range from 61 to 65 cents. Dial said its third-quarter earnings are expected to be about 18 cents a share, above analysts' estimates of 11 to 16 cents.
The stock this year has gained 37 percent.